Major PCB Manufacturer Places an Approximately $8 Million Order for Multiple Orbotech Direct Imaging Systems

YAVNE, Israel, May 27, 2015 /PRNewswire/ -- ORBOTECH LTD. (NASDAQ: ORBK) today announced that a major Pacific printed circuit boards manufacturer specializing in IC substrate and High Density Interconnect (HDI) PCB production, has placed a large order, valued at approximately $8 million, for multiple systems that are expected to be delivered within the second quarter of 2015. 

The order comprises multiple units of Orbotech's leading Direct Imaging systems, including the newly launched Paragon Ultra™ 300 and the Nuvogo™ 800. The systems were selected for their match with the customer's requirements for high performance and adaptability for a wide range of resist types for both IC packaging and HDI applications.

"We are gratified to have been selected by this esteemed customer, which requires high production capabilities and, in particular, the capability to expose extremely fine lines at very high quality", commented Mr. Arik Gordon, President of Orbotech's PCB Division. Mr. Gordon added: "With the increasing need for advanced products that demand more complex applications, Orbotech continues to offer solutions with very reliable performance, first class customer service and support and attractive total cost-of-ownership - all of which were strong determining factors for this leading customer."

About Paragon™ Ultra 300
Featuring the leading-edge performance of Orbotech's Large Scan Optics (LSO) Technology™, Paragon™ Ultra 300 Direct Imaging (DI) system delivers the highest imaging accuracy and yields for today's most complex IC substrate applications including, Flip-Chip CSP, BGA/CSP and modules manufacturing.  It provides fast throughput using enhanced electronics and a powerful laser system and provides exceptional results on both conventional and DI resists.

About Nuvogo 800
Nuvogo™ 800 is a next-generation Direct Imaging (DI) solution capable of imaging on almost every resist type, affording maximum flexibility to PCB makers. Powered by MultiWave Laser Technology™, Nuvogo 800 generates a multi wavelength laser beam for optimal line structure. This provides PCB manufacturers the ability to choose lower-cost resist types in order to further reduce total operating costs.

This high-productivity machine is able to achieve up to 7,000 panels/day/line at unprecedented quality.  Superior line quality and registration accuracy is achieved through Orbotech's field-proven Large Scan Optics (LSO) Technology™. Suitable for the most advanced HDI production, Nuvogo 800 ensures a high depth-of-focus critical for maximizing yields in increasingly challenging production environments. The combination of super high-productivity, flexibility to use almost any resist and unmatched yields results in the lowest possible cost-per-print and significantly lowers the system's total cost of ownership.

About Orbotech Ltd.

Orbotech Ltd. (NASDAQ: ORBK) is a global innovator of enabling technologies used in the manufacture of the world's most sophisticated consumer and industrial products throughout the electronics and adjacent industries. The Company is a leading provider of yield enhancement and production solutions for electronics reading, writing and connecting, used by manufacturers of printed circuit boards, flat panel displays, advanced packaging, micro-electro-mechanical systems and other electronic components. Virtually every electronic device in the world is produced using Orbotech systems.

For further information, visit www.orbotech.com

Cautionary Statement Regarding Forward-Looking and Other Statements

Except for historical information, the matters discussed in this press release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, future prospects, developments and business strategies and involve certain risks and uncertainties. The words "anticipate," "believe," "could," "will," "plan," "expect" and "would" and similar terms and phrases, including references to assumptions, have been used in this press release to identify forward-looking statements. These forward-looking statements are made based on management's expectations and beliefs concerning future events affecting Orbotech and are subject to uncertainties and factors relating to Orbotech's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control. Many factors could cause the actual results to differ materially from those projected including, without limitation, timing and extent of achieving the anticipated benefits of the acquisition of SPTS, including the timing and amount of cost savings, if any, Orbotech's ability to integrate and operate SPTS's business effectively, the timing, terms and success of any strategic or other transaction, cyclicality in the industries in which the Company operates, the Company's production capacity, timing and occurrence of product acceptance (the Company defines 'bookings' and 'backlog' as purchase arrangements with customers that are based on mutually agreed terms, which, in some cases for bookings and backlog, may still be subject to completion of written documentation and may be changed or cancelled by the customer, often without penalty), fluctuations in product mix, worldwide economic conditions generally, and especially in the industries in which the Company operates, the timing and strength of product and service offerings by the Company and each of its competitors, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis, the level of consumer demand for sophisticated devices such as smartphones, tablets and other electronic devices, the timing for a verdict in the ongoing appeal of the criminal matter and ongoing investigation in Korea, the final outcome and impact of this matter, including its impact on existing or future business opportunities in Korea and elsewhere, any civil actions related to the Korean matter brought by third parties, including the Company's customers, which may result in monetary judgments or settlements, expenses associated with the Korean matter, ongoing or increased hostilities in Israel and other risks detailed in the Company's United States Securities and Exchange Commission ("SEC") reports, including the Company's Annual Report on Form 20-F for the year ended December 31, 2014, and subsequent SEC filings. The Company assumes no obligation to update the information in this press release to reflect new information, future events or otherwise, except as required by law.

SOURCE Orbotech Ltd.

Related Links

http://www.orbotech.com